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It’s doesn’t take much to see that 2013 is going to bring some changes that will require individual and institutional investors alike to rethink their strategies. Recently, I offered my take on what will happen to dividends under Obama, and I mentioned that American-based blue chips will probably deploy their cash through stock buybacks rather than risk having more of it lost to taxes.

And already we’re seeing this go into effect. In just the past few days we’ve seen a handful of market bellwethers announce hefty share repurchase programs. So today I want to explain exactly why this is great news for investors and then point you to some of companies engaged in stock buybacks.

First, I consider stock buybacks a plus for investors, and here’s why:

It’s a sign that a company considers its shares good bargain.

Having fewer shares on the market reduces share price fluctuations.

Stock buybacks increase earnings per share—helping a company beat analyst estimates when they announce quarterly results.

For dividend-paying companies, buying back stock means that there are fewer shares that require a quarterly dividend payment.

With all of these benefits, it’s no wonder that many companies are relentlessly buying back their stock. Now, finding out which companies are engaged in share repurchase programs requires some research, so today I’ve compiled a list of the biggest stock buyback launches that you should keep on your radar. (Of course, while a stock buyback program is a good sign for a company, it’s not a green light for a buy recommendation, so I’ve added a column with my Portfolio Grader recommendation for each stock.)